1. Piano Lessons
Because I have my RCM Grade 10 and experience teaching younger kids, piano lessons would be ideal as a service to offer customers. I have a piano at home and I would be willing to travel to the student's house if they have a piano at home to do lessons. Also, I have access to books which I can offer the students. Teaching piano lessons would not require a lot of external materials other than books and maybe flash cards. The demand for this service may not be relatively high but it gives the opportunity to kids to have introductory lessons to music if they want to continue on with a professional teacher. Also, I would not charge a ridiculous amount of money so the parents can test out how piano lessons would be and to see if their child enjoys it.
2. Baked Goods (cookies, brownies)
Although serving food at our school requires FoodSafe, which I don't have, I can always go get certified. With this product, especially at lunch, people get hungry and this group would be my target market. It would not be an expensive product. However, it would be more costly than piano lessons, as I will need to buy the ingredients each time. This product would have higher demand than piano lessons, as it is cheaper and just more practical. The products would be hand delivered to the customer, as I would walk around the school halls during lunch/break.
Although there is a potential market for piano lesson, i think it might be hard for you to start with because there are many competitors outside. There are many piano teachers that already taught 10 years, 20 years out there, and customers are more likely to hire those teachers with greater experience than you. My suggestion is instead of going door to door to teach people, you can find a job at a piano lesson center (i dont know what you called those), because it is easier for people to get to see your skill. You can also expand your potential customers web and gain experience.
ReplyDeleteBaked goods
I think the market for the baked goods market is small due to the cafeteria and food market that already exist in schools. In lunch, we often see a long lineup for people to buy food from the cafe. Why do people still line up even they have to wait long? The main reason is they like to eat hot food instead of cold food. Many teenagers do not eat breakfast in the morning, so they tend to eat more at lunch to fill themselves. Baked goods are only finger foods that can not really fill people's stomach. Therefore, i think baked goods do not have a really big market.
I like your idea of piano lessons and I know for you it is a good part time job kind of thing because it is something you enjoy doing and a few hours a week of piano lessons is pretty reasonable. However like I said its a good part time, looking to making a little extra cash kind of job and not so much a big money making business. This really depends on the connections you have with people and how many students you can get.
ReplyDeleteI think baked goods is a effective idea, however, where would these goods be sold? Also, how will they be packed and made? Other than the cafeteria the hot food sold at the Trojan Market is also a competitive market.
- CATHY TRAN
I think the first idea may not get a lot of profit but it will definitely last long. Also I like the fact that it is an idea that starts low and could build up to be a better business. Though you may be willing to travel around to teach kids, it may be a bit harder to go to teach piano to those that live as far as Langley.
ReplyDeleteI like the idea of baked goods because I would be willing to buy it. I think to make it more effective, you could do seasonal promotions like christmas cookies or valentines chocolate muffins. Though I think that you should promote this product away from your main competitions.
-Anna Zhu
I really like the first idea about piano lessons. It is actually a very good start for a part-time job if you can get customers. Parents these days want to make their kid as well-rounded as they can be. There are also many competitors out there like wilson pointed out, people who have taught for decades.
ReplyDeleteI don't really like the second idea to be honest. FoodSafe is a must for all places to start with and requiring it may be a hassle. Also with school and everything, it will be very time consuming to be baking goods and doing homework all day long.
i really like your idea of being a piano teacher at home. because this allows it to have a very little start up cost since you already have a piano at home. The most it could cost is probably printing up a few music sheets for your students.
ReplyDeleteI don't really like your second idea though, unless you had a special cause for your baked goods, people may overglance your baked goods sale because maybe mostly of sanitation problems.
I dont know much about pianos but I do know that the business is actually pretty profitable. Offering private lessons can be a very good venture because there are plenty of people who are interested in learning a musical instrument, and teachers are not as common.
ReplyDeletePiano lessons seems like a good start as you pretty much have what you need, less the students and a few other things. But as many above pointed out, there are many that taught this for many years.
ReplyDeleteAs for your second idea, it seems as though it's a bake sale. It could work however there would be alot of time and effort put into this to make it happen.
- Tim
I think that piano lessons would be a great venture idea to pursue. I like the idea of teaching at home, this requires a very little amount of money to start and you make more of a profit.
ReplyDeleteI like the second idea, it sounds pretty tasty. :)
I think your first venture idea about piano lesion is a good idea because you can make profits out of it. Lots of people might want to learn piano and don’t have a chance, so as long as you offer a cheap price you will probably have at least a few customer.
ReplyDeleteFor your second venture idea, I don’t think it will work out because there is lots of competition such as Trojan Market, cafeteria, seven eleven, or some people might just bring their own snacks.
-Eva Li
Piano lessons is a good idea however it is hard to get students these days because it is competitive and is quite hard to get yourself well known.
ReplyDeleteI think teaching piano lessons would be a great idea. Many children have recently been taking piano lessons, as young as grade 1. You'll be able to make profit out of it even if you charge them at a cheaper price.
ReplyDeleteYour second venture idea would be great but the cafeteria has already been selling baked goods. Although if you sell it at even a cheaper price, I think you would be able to make a bit of profit. You can always ask someone who is Food Safe certified to help out because I know a lot of people who took Gourmet 12 and has been certified.
I think teaching piano lessons is a fresh idea that would capture many consumer's attention. Many problems would arise though such as other outside tutoring services being used and having a time efficient scheduled.
ReplyDeleteThe baking venture idea seems to be applicable because it is pretty easy to attain. It would be great for students during lunch time but competition already exists such as the cafeteria.
The idea of piano lessons is a good idea but it would be hard for you to start this business since it’s a very common idea and there are lots of businesses for piano so you would have a ton of competition. I do like how you want to create a comfortable and fun environment for your students. Your second venture idea is very familiar to my one of venture ideas but I do like how you would go deliver class to class. You would profit from this but the cafeteria would be your competition.
ReplyDelete- Asma Iftikhar.
Wow, RCM Grade 10! I’m glad to hear you’ve gone so far with piano, starting piano lessons is very useful then since you have all prior knowledge and resources (ie. books) to succeed in it. And it’s good that you mention you won’t charge so much and that it’s something where parents can test the waters of their children really wanting to pursue learning piano. It sets a goal for you as a piano teacher on what to focus on and for the parents bringing their kids to each lesson.
ReplyDeleteHome-baked goods always sound appealing and yummy. You mentioned delivering your goods to the purchaser though; I was just wondering how you’d find them? Like, are you going to have a designated meeting place that you arrange with them? Or are you really going to take the time to find them on your own? What if they don’t show up to pick up their treats? Would you end up selling it to someone else?
Overall, I think you have some really awesome ideas Ashley. Good luck on your venture! :)
Your initial idea seems to have a lot of potential in the market. Teaching piano lessons at an economical rate would be an awesome way to earn your self profit and at the same time get the kids to pursue their hobbies. I know it was pointed out by many above that there are many professional piano teachers out there, but isn't it just as clear that they are kind of pricey. That could be one of the reasons parents don't enroll their kids in a piano lesson because it's so expensive. However, you as a student with such a strong experience base in piano, could resolve this problem for parents as now they can actually afford to hire a piano teacher for their kids. If you just advertise in the right way(ie. posters and flyers delivered in different neighborhoods), you could earn a lot of profit from this business.
ReplyDeleteYour second idea however might not be as successful since we already have the cafeteria selling delicious cookies, that people purchase on a regular basis. Caff would be your biggest competition and with that, I don't think your business will gain a huge success.
I like the first venture idea because you stated that you won't charge a lot. The only thing you have to worry about is how will you advertise your piano lessons.
ReplyDeleteI think that the second venture idea won't work out with baked products. Due to overwhelming competition between you and the cafe. The cafeteria also sells baked good and sells more variety as well.